Guangzhou, HK to sign cross-sector deals worth US$1.6b

/ Hong Kong

 Guangzhou, HK to sign cross-sector deals worth US$1.6b
By Louise Ho(HK Edition)
Updated: 2007-08-03 06:48

Guangzhou and Hong Kong will sign business agreements worth more than
US$1.6 billion at a seminar today signalling closer economic ties between
the two places.

The Closer Cooperation for Better Development, Guangzhou-Hong Kong
Economic Cooperation Seminar is part of the program of the Tenth Working
Meeting of the Hong Kong-Guangdong Co-operation Joint Conference.

The seminar will be another large-scale, high-level exchange between
Guangzhou and Hong Kong since 2004.

Led by Guangzhou mayor Zhang Guangning, Guangzhou officials and more than
500 guests and Hong Kong entrepreneurs will take part in the seminar.

Henry Tang, Chief Secretary for Administration of the HKSAR will sign the
agreements on behalf of Hong Kong.

"The agreements will enhance cooperation in areas such as real estates,
electronics, technology, infrastructure and tourism, with a focus in the
service industry," said Tang Hanghao, vice secretary general of Guangzhou
Municipal People's Government.

"Using Hong Kong's obvious advantages in the service industry, the
agreement will help Guangzhou's processing industry restructure," said
Xiao Zhenyu, director general, Bureau of Foreign Trade and Economic
Cooperation of Guangzhou Municipality.

"After the seminar in 2004, Hong Kong investment in Guangzhou, which is
close to 60 percent of total investment projects, has greatly surpassed
investment in the past 20 years," he said.

"There will also be an interactive dialogue session at the seminar where
Hong Kong entrepreneurs can directly talk to Guangzhou officials on the
issues of concern," he added.

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